A method of customizing authentication credentials for a payment card includes providing, by a payment card configuration circuit of a financial institution computing system, a card configuration interface to a computing device of a customer, the customer having a payment card account maintained by the financial institution computing system, receiving, by the payment card configuration circuit, a request from the computing device to modify an authentication requirement for use of the payment card account, the request including an authentication credential, and assigning, by the payment card configuration circuit, the authentication credential to a payment card associated with the payment card account, wherein the authentication credential is useable to authenticate a user of the payment card.
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1. A method, comprising: storing, by a financial institution computing system, in a database, a plurality of personal identification numbers (PINs) for authenticating transactions conducted using a payment card account, wherein each PIN of the plurality of PINs are associated with the payment card account; providing, by the financial institution computing system, to a thin-client application executing on a client device, a first web page including a user interface comprising a plurality of links, each of the plurality of links corresponding to a respective PIN of the plurality of PINs associated with the payment card account; receiving, by the financial institution computing system, responsive to an interaction with a first link of the plurality of links corresponding to a first PIN of the plurality of PINs, via the first web page displayed in the thin-client application, a first request to modify the first PIN of the plurality of PINs associated with the payment card account, the first request comprising (i) the first PIN, (ii) a replacement PIN, and (iii) a password that is required to authenticate a user of the client device as having authority to configure the payment card account, wherein the password is different from the first PIN and different from the replacement PIN; authorizing the requested modification to the first PIN by authenticating, by the financial institution computing system, the password included in the first request; responsive to authorizing the requested modification, replacing, by the financial institution computing system, the first PIN with the replacement PIN, such that the replacement PIN is associated with the payment card account; receiving, by the financial institution computing system, via the user interface displayed in the thin-client application, a second request comprising a selection of an account profile of a plurality of account profiles associated with the payment card account to assign to the replacement PIN; assigning, by the financial institution computing system, the selected account profile to the replacement PIN associated with the payment card account; receiving, by the financial institution computing system via the user interface of the thin-client application executing on the client device, a request to add a restriction to the selected account profile of the plurality of account profiles of the payment card account, the restriction including at least one of a purchase limit, a location limit, or an expiration period; modifying, by the financial institution computing system, the selected account profile by storing, in the database, the restriction in association with the selected account profile assigned to the replacement PIN; receiving, by the financial institution computing system from a merchant computing device, a transaction request for a transaction, the transaction request identifying the payment card account and including the replacement PIN; retrieving, by the financial institution computing system, from the database and responsive to receiving the transaction request, the restriction stored in association with the selected account profile that is assigned to the PIN included in the transaction request; determining, by the financial institution computing system, that the transaction request is compliant with the restriction; transmitting, by the financial institution computing system to the merchant computing device, an indication that the transaction request is compliant with the restriction; identifying, by the financial institution computing system, a budget category associated with the selected account profile; assigning, by the financial institution computing system, an amount of the transaction to the budget category; applying, by the financial institution computing system, the transaction to the payment card account; receiving, by the financial institution computing system from the merchant computing device, a second transaction request for a second transaction, the second transaction request identifying the payment card account and including the replacement PIN; retrieving, by the financial institution computing system, from the database and responsive to receiving the second transaction request, the restriction stored in association with the selected account profile that is assigned to the replacement PIN included in the transaction request; determining, by the financial institution computing system, that the second transaction request is not compliant with the restriction; and denying, by the financial institution computing system, the second transaction request responsive to determining that the second transaction request is not compliant with the restriction.
Financial transaction security and management. This invention addresses the need for enhanced control and security over payment card transactions. It involves a financial institution computing system managing multiple personal identification numbers (PINs) associated with a payment card account. The system provides a thin-client application interface to a user, displaying links corresponding to each PIN. When a user interacts with a link, the system receives a request to modify a specific PIN, which includes the current PIN, a new replacement PIN, and a separate password for authentication. The system validates the password to authorize the modification, then updates the PIN associated with the account. Further, the system allows the user to select an account profile to assign to the new PIN and to add restrictions to that profile, such as purchase limits, location limits, or expiration periods. The system then handles transaction requests from merchants. Upon receiving a transaction request with the payment card account and the replacement PIN, the system retrieves the associated restrictions. It determines if the transaction complies with these restrictions. If compliant, the transaction is approved and its amount is assigned to a budget category. If not compliant, the transaction is denied. This allows for granular control over spending based on user-defined profiles and restrictions.
2. The method of claim 1 , further comprising responsive to receipt of the replacement PIN in the transaction request, authenticating, by the financial institution computing system, the user to perform the transaction using the payment card account.
A system and method for secure financial transactions using a payment card account involves generating a temporary personal identification number (PIN) for a user to authorize transactions. The method includes receiving a transaction request from a user device, where the request includes a replacement PIN generated by the user device. The replacement PIN is derived from a base PIN and a transaction-specific value, such as a transaction amount or timestamp, to enhance security. Upon receiving the replacement PIN, the financial institution's computing system authenticates the user by verifying the replacement PIN against the base PIN and the transaction-specific value. This ensures that the transaction is authorized only if the replacement PIN is valid for the specific transaction details. The method prevents unauthorized use of the payment card account by requiring dynamic PIN generation, which changes for each transaction, reducing the risk of fraud. The system may also include additional security measures, such as encrypting the transaction request and validating the user's device before processing the transaction. This approach enhances security by making it difficult for attackers to reuse stolen PINs or intercept transaction data.
3. The method of claim 1 , wherein the payment card account is linked to a debit card associated with the financial institution computing system.
A system and method for processing financial transactions involves linking a payment card account to a debit card associated with a financial institution's computing system. The method enables secure and efficient transaction processing by associating the payment card account with the debit card, allowing users to conduct transactions using the debit card while leveraging the payment card account's features. The financial institution's computing system verifies the transaction details, including the payment card account information and the debit card details, to ensure proper authorization and settlement. This linkage allows for seamless integration between the payment card account and the debit card, enhancing transaction security and convenience. The system may also include additional security measures, such as encryption and multi-factor authentication, to protect sensitive financial data during transactions. The method ensures that transactions are processed accurately and securely, reducing the risk of fraud and unauthorized access. The financial institution's computing system may also provide real-time transaction monitoring and alerts to detect and prevent suspicious activities. This approach improves the overall efficiency and reliability of financial transactions, benefiting both users and financial institutions.
4. The method of claim 1 , wherein the first request, including the first PIN, is received by the financial institution computing system via a card configuration interface.
A system and method for secure financial transaction processing involves a financial institution computing system that receives a first request, including a first personal identification number (PIN), via a card configuration interface. The system verifies the first PIN against a stored PIN associated with a payment card. Upon successful verification, the system generates a second request, including a second PIN, and transmits it to a mobile device associated with the user. The mobile device receives the second request and displays the second PIN to the user. The user then enters the second PIN into a point-of-sale (POS) terminal to complete a transaction. The financial institution computing system receives a transaction request from the POS terminal, including the second PIN, and verifies it against the stored PIN. If the second PIN matches, the transaction is authorized. This method enhances security by using a two-step verification process, reducing the risk of unauthorized transactions. The card configuration interface allows users to set up or modify their PINs securely, ensuring that only authorized users can initiate transactions. The system may also include additional security measures, such as encryption and multi-factor authentication, to further protect user data.
5. The method of claim 1 , further comprising assigning, by the financial institution computing system, the transaction to the selected account profile based on the first PIN.
A financial institution computing system processes transactions by analyzing transaction data to determine a transaction type, such as a purchase, withdrawal, or transfer. The system identifies a first personal identification number (PIN) associated with the transaction and compares it to stored account profiles linked to the user. Each account profile includes a PIN and transaction rules defining eligible transaction types. The system selects an account profile where the first PIN matches the stored PIN and the transaction type complies with the profile's rules. The transaction is then assigned to the selected account profile for processing. This method ensures transactions are routed to the correct account based on PIN verification and predefined transaction rules, improving security and accuracy in financial transactions. The system may also validate the transaction against additional criteria, such as available funds or transaction limits, before finalizing the assignment. This approach enhances fraud prevention and streamlines transaction handling by automating account selection based on PIN and transaction type compatibility.
6. An apparatus, comprising: a financial institution customer database that stores a plurality of personal identification numbers (PINs) for authenticating transactions conducted using a payment card account, wherein each PIN of the plurality of PINs are associated with the payment card account; a network interface circuit communicably coupled to the financial institution customer database and structured to communicate with a client device; and a financial institution computing system communicably coupled to the financial institution customer database and the network interface circuit, the financial institution computing system configured to: provide, to a thin-client application executing on the client device, a first web page including a user interface comprising a plurality of links, each of the plurality of links corresponding to a respective PIN of the plurality of PINs associated with the payment card account; receive, responsive to an interaction with a first link of the plurality of links corresponding to a first PIN of the plurality of PINs, via the first web page displayed in the thin-client application, a first request to modify the first PIN of the plurality of PINs stored in association with the payment card account, the first request comprising (i) the first PIN, (ii) a replacement PIN, and (iii) a password that is required to authenticate a user of the client device as having authority to configure the payment card account, wherein the password is different from the first PIN and different from the replacement PIN; authorize the requested modification to the first PIN by authenticating the password included in the first request; replace the first PIN with the replacement PIN responsive to authorizing the requested modification, such that the replacement PIN is associated with the payment card account; receive, via the user interface displayed in the thin-client application, a second request comprising a selection of an account profile of a plurality of account profiles associated with the payment card account to assign to the replacement PIN; assign the selected account profile to the replacement PIN associated with the payment card account; receive, via the user interface of the thin-client application executing on the client device a request to add a restriction to the selected account profile of the plurality of account profiles, the restriction including at least one of a purchase limit, a location limit, or an expiration period; modify the selected account profile by storing, in the financial institution customer database, the restriction in association with the selected account profile assigned to the replacement PIN; receive, from a merchant computing device, a transaction request for a transaction, the transaction request identifying the payment card account and including the replacement PIN; retrieve, from the financial institution customer database and responsive to receiving the transaction request, the restriction stored in association with the selected account profile that is assigned to the replacement PIN included in the transaction request; determine that the transaction request is compliant with the restriction; and transmit, to the merchant computing device, an indication that the transaction request is compliant with the restriction; and apply the transaction to the payment card account; receive, from the merchant computing device, a second transaction request for a second transaction, the second transaction request identifying the payment card account and including the replacement PIN; retrieve, from the financial institution customer database and responsive to receiving the second transaction request, the restriction stored in association with the selected account profile that is assigned to the replacement PIN included in the transaction request; determine that the second transaction request is not compliant with the restriction; and deny the second transaction request responsive to determining that the second transaction request is not compliant with the restriction.
This invention relates to a system for managing payment card accounts with multiple personal identification numbers (PINs) and associated restrictions. The system includes a financial institution customer database storing multiple PINs linked to a single payment card account, each PIN associated with a specific account profile. A network interface circuit enables communication with client devices, while a financial institution computing system processes requests to modify PINs and manage account profiles. The system allows users to replace an existing PIN with a new one via a thin-client application, requiring authentication with a password distinct from both the old and new PINs. Users can assign different account profiles to each PIN, each profile containing customizable restrictions such as purchase limits, location limits, or expiration periods. When a transaction is initiated, the system checks the associated PIN's profile restrictions. Compliant transactions are approved and applied to the account, while non-compliant transactions are denied. This approach enhances security and flexibility by enabling multiple PINs with distinct usage rules for a single payment card account.
7. The apparatus of claim 6 , wherein the financial institution computing system is further configured to authenticate the user to perform the transaction using the payment card account.
A system for secure financial transactions involves a financial institution computing system that processes payments using a payment card account. The system includes a user device configured to receive user input for a transaction and transmit transaction data to the financial institution computing system. The financial institution computing system is configured to receive the transaction data, validate the transaction, and process the payment using the payment card account. The system further includes a payment processing network that facilitates communication between the financial institution computing system and the merchant system to complete the transaction. The financial institution computing system is also configured to authenticate the user to ensure the transaction is authorized before processing the payment. This authentication step may involve verifying user credentials, biometric data, or other security measures to prevent unauthorized access to the payment card account. The system ensures secure and efficient transaction processing while minimizing fraud risks.
8. The apparatus of claim 6 , wherein the payment card account is linked to a debit card.
A payment processing system is designed to facilitate transactions using payment cards, particularly those linked to debit accounts. The system includes a payment terminal configured to receive transaction data from a payment card, such as a debit card, and process the transaction by communicating with a payment network. The terminal verifies the card's validity, checks available funds, and authorizes the transaction if sufficient funds are available. The system ensures secure and efficient processing of debit card transactions, reducing the risk of fraud and improving transaction speed. The apparatus may include additional features, such as encryption for secure data transmission and real-time balance verification to prevent over-drafting. This invention addresses the need for reliable and secure debit card payment processing in financial transactions.
9. The apparatus of claim 6 , wherein the financial institution computing system is communicably coupled to a card configuration interface, and wherein the financial institution computing system is configured to receive the first request via the card configuration interface.
A financial transaction system enables dynamic card configuration for payment cards, such as credit or debit cards, to enhance security and user control. The system addresses the problem of static card configurations, which are vulnerable to fraud and lack flexibility in managing transaction permissions. The apparatus includes a financial institution computing system that processes requests to modify card settings, such as transaction limits, merchant restrictions, or spending categories. The system is communicably coupled to a card configuration interface, allowing users or authorized entities to submit requests for card modifications. Upon receiving a request, the financial institution computing system updates the card's configuration in real-time, ensuring secure and controlled transaction processing. This dynamic approach reduces fraud risk by enabling temporary or permanent restrictions on card usage, improving security and user convenience. The system may also integrate with other components, such as transaction processing modules or user authentication systems, to validate and enforce the updated card settings. The card configuration interface provides a user-friendly way to manage card permissions, ensuring that financial transactions align with user preferences and security policies.
10. The apparatus of claim 6 , wherein the financial institution computing system is further configured to: receive a third transaction request from the merchant computing device to authorize a third transaction from the payment card account, wherein the third transaction request includes the replacement PIN; and assign the third transaction to the selected account profile at the financial institution customer database based on the replacement PIN.
This invention relates to financial transaction systems, specifically improving the handling of payment card transactions by dynamically assigning transactions to specific account profiles based on a replacement personal identification number (PIN). The problem addressed is the inefficiency and security risks associated with traditional systems that rely on static account assignments, which can lead to incorrect transaction routing or fraud. The system includes a financial institution computing system connected to a merchant computing device and a financial institution customer database. The financial institution computing system is configured to receive a transaction request from the merchant computing device to authorize a transaction from a payment card account. The transaction request includes a replacement PIN, which is a temporary or dynamic identifier linked to a specific account profile in the customer database. The system then assigns the transaction to the selected account profile based on the replacement PIN, ensuring accurate routing and reducing fraud risks. Additionally, the system can receive a subsequent transaction request from the merchant computing device, which also includes the replacement PIN, and assign this transaction to the same selected account profile. This dynamic assignment process allows for flexible and secure transaction handling, improving the efficiency and security of financial transactions. The system ensures that transactions are correctly routed to the intended account profile, enhancing both user experience and fraud prevention.
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December 28, 2015
February 1, 2022
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